DAQO New Energy (NYSE:DQ) Reaches New 12-Month Low – What’s Next?

DAQO New Energy Corp. (NYSE:DQ) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.62 and last traded at $13.6150, with a volume of 435 shares traded. The stock had previously closed at $13.90.

Analyst Ratings Changes

A number of research firms recently weighed in on DQ. Wall Street Zen cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Roth Mkm set a $19.00 price target on DAQO New Energy in a research note on Thursday, April 30th. Weiss Ratings cut DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, Zacks Research cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, DAQO New Energy has an average rating of “Hold” and a consensus price target of $23.59.

DAQO New Energy Stock Down 2.8%

The firm’s fifty day moving average price is $18.24 and its 200 day moving average price is $23.21. The stock has a market cap of $913.88 million, a PE ratio of -4.87 and a beta of 0.61.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.18). The company had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $186.28 million. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. As a group, analysts anticipate that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DAQO New Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of DAQO New Energy during the 3rd quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in shares of DAQO New Energy during the 2nd quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of DAQO New Energy in the fourth quarter valued at $49,000. Finally, Banque Cantonale Vaudoise bought a new stake in DAQO New Energy in the fourth quarter worth $55,000. 47.22% of the stock is owned by institutional investors.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.